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-   -   CHICAGO | 1000M (1000 S. Michigan) | 832 FT | 76 FLOORS | ON HOLD (https://skyscraperpage.com/forum//showthread.php?t=218947)

the urban politician Dec 15, 2018 2:42 PM

Why are people here making negative assumptions about sales?

Too much assuming around here, which gets us nowhere.

Zapatan Dec 15, 2018 5:04 PM

Quote:

Originally Posted by the urban politician (Post 8409887)
Why are people here making negative assumptions about sales?

Too much assuming around here, which gets us nowhere.

Yea, people have the idea this (from the article I posted) was fake, which it could be I guess, but doesn't seem like something to lie about.

And again, I don't know why Grant park adjacent wouldn't be the most desirable area of the city.


Quote:

1000M’s sales are more than double the next fastest-selling development, the 94-story Vista Tower, and represent approximately 34 percent of all development sales downtown. The figures are based on data from two sources: Midwest Real Estate Data, LLC, which operates the Chicagoland Multiple Listing Service, and the 4Q17 Downtown Chicago Condo Report compiled by Intregra Realty Resources.

Loopy Dec 18, 2018 5:59 AM

Quote:

Originally Posted by Zapatan (Post 8409963)
And again, I don't know why Grant park adjacent wouldn't be the most desirable area of the city.

I lived one block from this site for 18 years. The location may be desirable to some but I finally fled from frustration.

The park is lovely and proximity to the lake shore (trail) and loop is great, but unfortunately, the Mayors office has decided that this area shall be a full-time staging area for public events.

Public events are great, I understand. But try living with every weekend (your time off) with Celtic Festival, Country Festival, Blues Festival, Gospel Festival, Taste of Chicago, Lolapalooza (five band stages playing simultaneously for 4 days), Chicago Bears at Soldier Field, Concerts at Charter One Pavilion, Run for the This, Run for the That, Chicago Marathon etc.

For most of you, every day in your neighborhood, you can walk out of your door and see someone one you know. It may not be a friend, but just a neighborhood person you see every day.

In the South Loop you will not have this experience. Everybody you encounter is someone that is there for some event, meeting someone for dinner, or otherwise not a neighbor.

No other downtown neighborhood in Chicago has this dynamic, except for possibly River North.

It was fun for a few years, but I couldn't take it in the end.

For absentee investors in 1000 S. Michigan, none of these issues will be a problem. But for anybody who actually wants to live there, good luck.

Investing In Chicago Dec 18, 2018 4:11 PM

Quote:

Originally Posted by Zapatan (Post 8409963)

And again, I don't know why Grant park adjacent wouldn't be the most desirable area of the city.

I can't really think of any reasons why Grant Park adjacent housing would be the most desirable area of the city.

jc5680 Dec 18, 2018 5:30 PM

Quote:

Originally Posted by the urban politician (Post 8409887)
Why are people here making negative assumptions about sales?

Too much assuming around here, which gets us nowhere.

I don't really see much in the way of negative assumptions being made. If anything there were too many of the rah rah comments based off misleading information.

There hasn't been much in the way of anything reported since the initial marketing push for this building. What has come out has been in the form of PR pieces trying to paint a specific picture. Had those pieces existed along side anything remotely credible, then sure maybe the outlook is good. But in the absence of it, you should probably be a little skeptical at this point.

For a building that is allegedly supposed to start in the next 3 months we are pretty far into they typical window where we hear whispers about financing or Crains gets some sort of more complete scoop. But there is nothing.

Kumdogmillionaire Dec 19, 2018 5:14 AM

Quote:

Originally Posted by Loopy (Post 8412408)
I lived one block from this site for 18 years. The location may be desirable to some but I finally fled from frustration.

The park is lovely and proximity to the lake shore (trail) and loop is great, but unfortunately, the Mayors office has decided that this area shall be a full-time staging area for public events.

Public events are great, I understand. But try living with every weekend (your time off) with Celtic Festival, Country Festival, Blues Festival, Gospel Festival, Taste of Chicago, Lolapalooza (five band stages playing simultaneously for 4 days), Chicago Bears at Soldier Field, Concerts at Charter One Pavilion, Run for the This, Run for the That, Chicago Marathon etc.

For most of you, every day in your neighborhood, you can walk out of your door and see someone one you know. It may not be a friend, but just a neighborhood person you see every day.

In the South Loop you will not have this experience. Everybody you encounter is someone that is there for some event, meeting someone for dinner, or otherwise not a neighbor.

No other downtown neighborhood in Chicago has this dynamic, except for possibly River North.

It was fun for a few years, but I couldn't take it in the end.

For absentee investors in 1000 S. Michigan, none of these issues will be a problem. But for anybody who actually wants to live there, good luck.

I've dealt with the exact same festivals and traffic as well, and I have no complaints about it at all. Quite the opposite really... I guess I could see it growing tiresome for senior citizens since they just lack the energy to keep up with so many festivals and events, but for me it's the perfect location. The energy of it all, just being in the center of what is the highlight of someone's month or even year and having that be an ordinary thing is just fantastic.

Not sure how you could compare it to River North which is just a giant club and pricey restaurant/bar scene. Apples to oranges... hell, apples to skateboards.

I would imagine that the people ages 35-50 buying there will more than likely love the place.

Loopy Dec 20, 2018 4:46 AM

Quote:

Originally Posted by Kumdogmillionaire (Post 8413647)
I would imagine that the people ages 35-50 buying there will more than likely love the place.

Get off my lawn

AMWChicago Dec 25, 2018 1:09 AM

Looking at Jahn's website and at some renderings. Found this one. Wow! Will it really dominate the skyline like this?? I know its a similar height to 1BP and that towers over Streeterville, which already has its fair share of 500+ footers. And I knew this one was a big boy, so this feels right, but god damn. Makes me want this one waaaaay more.

https://farm8.staticflickr.com/7918/...e572ee66_b.jpgScreen Shot 2018-12-24 at 8.06.17 PM by Andrew W, on Flickr

BVictor1 Dec 25, 2018 2:50 AM

Quote:

Originally Posted by AMWChicago (Post 8418490)
Looking at Jahn's website and at some renderings. Found this one. Wow! Will it really dominate the skyline like this?? I know its a similar height to 1BP and that towers over Streeterville, which already has its fair share of 500+ footers. And I knew this one was a big boy, so this feels right, but god damn. Makes me want this one waaaaay more.

https://farm8.staticflickr.com/7918/...e572ee66_b.jpgScreen Shot 2018-12-24 at 8.06.17 PM by Andrew W, on Flickr


It dominated in this rendering, because there's no Essex shown. That building will soften the vistal impact you see above.

joeg1985 Dec 25, 2018 10:45 AM

Let alone the impact of NEMA which will be just a few blocks to the left and 63 feet taller than this. 1000M will make a nice impact but not totally stick out like the rendering portrays.

rgarri4 Jan 8, 2019 8:38 PM

From my Chicago model.


https://images2.imgbox.com/df/ea/xIszsOiG_o.jpg

https://images2.imgbox.com/37/96/PWqiG5Gx_o.jpg

Kumdogmillionaire Jan 17, 2019 5:45 AM

Spoke to a friend earlier today who works for the team that designed the tower and their sales for the buildings is down to 34. The project is now considered dead and will not be moving forward (according to source).

RIP 1000M

SIGSEGV Jan 17, 2019 6:03 AM

Why don't they make it a mix of apartments and condos?

BVictor1 Jan 17, 2019 6:31 AM

Quote:

Originally Posted by SIGSEGV (Post 8439609)
Why don't they make it a mix of apartments and condos?

It was in its initial iteration. I hope that rumor is false.

Skyguy_7 Jan 17, 2019 1:31 PM

Slumdog, thanks for the tip. I'm not even sad. At least we got a nice sidewalk barricade and some colorful signage out of the deal. It was a tough sell; there's so much new competition in the area. Overall, SLoop did pretty well this boom.

HomrQT Jan 17, 2019 1:43 PM

Quote:

Originally Posted by Kumdogmillionaire (Post 8439599)
Spoke to a friend earlier today who works for the team that designed the tower and their sales for the buildings is down to 34. The project is now considered dead and will not be moving forward (according to source).

RIP 1000M

I wonder if they would have kept the original, better design if that would have saved the project.

aaron38 Jan 17, 2019 2:02 PM

If the rumor is true I'm not that sad nor surprised. It's a horrible frankenstein design. I kept waiting for them to come to their senses and change it. Maybe this will teach people that design actually matters. Hopefully we get a post mortem of some sort.

This lot will only increase in value as the south loop matures. Something will go there, hopefully something much better.

ChiHi Jan 17, 2019 4:56 PM

Trying to get over $1000/sq ft for this part of the city is a huge leap for the area when even the nicest buildings in the area can barely hit an average of $700/sq ft was the biggest problem to me. Aside from the park and views, the area really doesn't have much going for it. If it was in the $700-$800/sq ft range it may have had a chance.

Zapatan Jan 17, 2019 5:01 PM

Eh, not such a big deal... it would have been cool but this is definitely not my favorite Chicago project

NEMA Phase II is what I'm really hoping for, and a few others downtown.

Quote:

It's a horrible frankenstein design
I liked it at first but from some angles I agree

Steely Dan Jan 17, 2019 5:13 PM

not surprising. serves the developer right for stupidly ditching jahn's initial cantilevered boxes design. that iteration was spectacular.

i was only ever excited about this one as a skyline "height bridge" between the loop and the south wall. the wonky design never did fully grow on me.


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